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The pair piles on the pressure on the main support level (0/8)

29 April 2015, USD/JPY

The pair piles on the pressure on the main support level (0/8) 4 hours’ chart of USDJPY. The pair piles on the pressure on the main support level (0/8) but we don’t see real attempts to break this level. Therefore, the main options considered by us is the upward to the intermediate resistance level (2/8), from which we can wait a new wave of decline. An alternative option: breakthrough and consolidation of price in the oversoldness area and a further decline of the pair.

Nikolay Krishtopov
FreshForex Analyst
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